in recent years,currency appreciation problems become the focus of international economic affairs.the china foreign exchange trading center launched in may 2005 eight kinds of foreign exchange trading products and introducing foreign currency transactions between market maker system.trading system operation quality for financial markets will h**e a direct impact on renminbi appreciation,** market maker system under the background of the function and bidding transaction mode and the future development direction.and from the micro financial angle analyzes the formation mechani** of exchange rate and the problems ex**ting in the foreign exchange market,demonstrates the market maker system executes the rmb exchange rate mechani** to improve and china's foreign exchange market development has the positive significance,and puts forward relevant policy suggestions.